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BUZZ-China's Xiaomi at 8-week peak on mass producing self-developed chip

Reuters
05-20
BUZZ-China's Xiaomi at 8-week peak on mass producing self-developed chip

** Shares of China's Xiaomi 1810.HK climb 4.3% to HK$54.6, their highest levels since March 25, and on course for a third consecutive session of gains

** Stock marks its biggest intraday pct gain since May 2; and is second-biggest pct gainer on Hang Seng Tech Index .HSTECH, which rises 1.4%

** Xiaomi's founder Lei Jun said on Tuesday the company has started mass production of its self-developed Xring O1 advanced mobile chip, and the first two products to be powered by the chip will be the Xiaomi 15S Pro smartphone and the Xiaomi Pad 7 Ultra

** Xiaomi plans to hold a launch event for the products on Thursday

** Hang Seng Commerce & Industry Index .HSNC rises 1.6%, Hang Seng Index .HSI climbs 1.3%

** YTD, stock up 57%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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